- More American voters show eagerness when it comes to investing in crypto.
- The survey shows rising voter interest and openness to crypto investment.
- Balanced interest across parties highlights crypto’s significance.
Discover how cryptocurrency is shaping voter sentiment ahead of the 2024 U.S. presidential elections, with insights from a recent survey by Grayscale.
Crypto’s Growing Influence in the 2024 U.S. Presidential Elections
As anticipation mounts for the upcoming United States presidential elections in 2024, cryptocurrency has emerged as a consistent focal point among voters. Harris Poll conducted the survey on behalf of Grayscale on voters in the 2024 U.S. Election. The online survey took place between the 30th of April and the 2nd of May, and involved 1,768 adults.
Survey Results
The results published by Grayscale suggested that Bitcoin’s [BTC] prominence had increased due to macro developments and its maturation as an asset, saying,
“Nearly a third of voters (32%) say that they are more open to learning about crypto investing or actually investing in crypto since the beginning of the year.”
The survey highlighted an upward trend wherein more voters now view crypto as a favorable long-term investment (23% compared to 19% last November). Additionally, a growing number anticipate incorporating crypto into their investment portfolios (47% in November 2023 versus 40% now). This trend has also led to Bitcoin prices surpassing those seen in previous elections, as indicated in the graph below.
Source: Grayscale/Harris Poll
Further discussing the impact of Bitcoin ETF, the report elaborated,
“The Bitcoin ETF approval, in particular, made 9% of retiree voters more interested in investing in Bitcoin or crypto assets.”
Trump vs. Biden
Needless to say, while Donald Trump has openly embraced crypto, as evident in his recent decision to accept crypto donations for his presidential campaign, Joe Biden’s stance on crypto has been less vocal. However, numerous instances suggest that Biden has also accepted crypto, especially with his stance around the FIT21 and SAB 121 bills. Additionally, as per Grayscale’s report,
“Crypto is a bipartisan issue, with similar ownership rates among Republicans (18%) and Democrats (19%).”
It further stated,
“Voters are split on which party is more favorable to the industry, as an equal percentage of voters (30% each) think that both the Democratic and Republican parties have the most favorable position on crypto policies.”
Voter’s Sentiment Shift
These findings illustrate that support for crypto isn’t heavily skewed toward one party, indicating a balanced interest across the political spectrum. Hence, as crypto gains traction among voters, particularly young ones, the approach of the next government towards cryptocurrency will be pivotal.
Conclusion
As the 2024 U.S. presidential elections approach, the growing interest in cryptocurrency among voters is undeniable. The balanced interest across political parties underscores the significance of crypto in shaping future economic policies. As more voters consider crypto a viable long-term investment, the stance of the next administration on cryptocurrency will be crucial in determining its future trajectory.
